2025-04-30T09:30:54-05:00 2024-06-30 881478669 CBIZ ADVISORS LLC 53 STATE STREET BOSTON MA 02109 990 2023-07-01 222970652 BANGOR HOUSING DEVELOPMENT CORPORATION BANG 2079426365 161 DAVIS ROAD BANGOR ME 04401 MICHAEL MYATT SECRETARY/TREASURER 2079426365 2025-04-30 0 KRISTEN CUMMINGS P01510495 6178075000 2025-04-30 2023 2025-03-06 01:10:19Z MICHAEL MYATT 161 DAVIS ROAD BANGOR ME 04401 3558806 0 X N/A X 1987 ME THE SPECIFIC PURPOSES OF THE CORPORATION ARE TO ORGANIZE, DEVELOP, FINANCIALLY ASSIST, OR MANAGE, ON A NON-PROFIT BASIS, PROJECTS OR PROGRAMS PROVIDING LOW- AND MODERATE-INCOME RENTALS IN MAINE. 7 7 0 7 0 0 0 0 2658584 3508336 35415 50470 0 0 2693999 3558806 0 0 0 0 290959 417896 0 0 0 2745800 2990556 3036759 3408452 -342760 150354 18401431 11329345 15906484 8362902 2494947 2966443 X THE SPECIFIC PURPOSES OF THE CORPORATION ARE TO ORGANIZE, DEVELOP, FINANCIALLY ASSIST, OR MANAGE, ON A NON-PROFIT BASIS, PROJECTS OR PROGRAMS PROVIDING LOW- AND MODERATE-INCOME RENTALS IN MAINE. 1 0 3060107 3508336 THE ORGANIZATION OWNS FOUR LOW-INCOME HOUSING PROJECTS AND TWO AFFORDABLE MARKET RATE PROJECTS LOCATED IN THE STATE OF MAINE. THESE INCLUDE AUTUMN PARK WEST, CRESTWOOD PLACE, GREENFIELD APARTMENTS, GRIFFIN SQUARE, THE LOFTS AT FREESE, AND OHIO STREET. THE ORGANIZATION ENTERED INTO A DEVELOPMENT AGREEMENT WITH DAVIS ROAD SENIOR HOUSING LP WHICH IS AN ENTITY WITH THE PURPOSE OF ACQURING OR CONSTRUCTING AN AFFORDABLE HOUSING COMPLEX. 3060107 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 17 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 0 1 1 0 0 0 1 0 1 1 0 0 0 0 X MICHAEL MYATT 2079426365 161 DAVIS ROAD BANGOR ME 04401 ELIZABETH HAYWARD PRESIDENT 1.00 X X 0 0 0 RODNEY MCKAY VICE PRESIDENT 1.00 X X 0 0 0 MICHAEL MYATT SECRETARY/TREASURER 1.00 X X 59075 150523 18797 JANE JOHNSON DIRECTOR 1.00 X 0 0 0 ROBERTA DOWNEY DIRECTOR 1.00 X 0 0 0 RICHARD LAFERTIE DIRECTOR 1.00 X 0 0 0 PAUL CHAIKEN DIRECTOR 1.00 X 0 0 0 BRENDA BROWN DIRECTOR 1.00 X 0 0 0 59075 150523 18797 0 0 1 0 0 TENANT RENT 531110 2148536 2148536 DEVELOPER FEE 531110 850000 850000 HOUSING ASSISTANCE 531110 488567 488567 MISCELLANEOUS 531110 21233 21233 3508336 50470 50470 3558806 3508336 0 50470 316227 316227 101669 101669 139045 139045 19618 19618 38514 38514 289069 289069 287296 287296 507402 507402 95540 95540 REPAIRS & MAINTENANCE 883135 883135 UTILITIES 555678 555678 TAXES 115363 115363 OTHER ADMIN EXPENSE 30469 9707 20762 29427 29427 3408452 3060107 348345 0 872567 404678 863889 466943 61822 822209 16538 17364 16381013 7667493 8616318 8713520 0 320000 7970297 584631 18401431 11329345 1384100 882003 14318783 7267216 203601 213683 15906484 8362902 X 2494947 2966443 2494947 2966443 18401431 11329345 X 150354 320000 1142 X 1 X 0 0 0 X 466472 489145 483835 484267 488567 2412286 466472 489145 483835 484267 488567 2412286 2412286 -14441 3679 2261 35415 50470 77384 2489670 3019769 0.96890 0.98580 X 848984 848984 13425624 6178330 7247294 527655 350074 177581 1578750 1139089 439661 8713520 TENANT SECURITY DEPOSIT 197414 ESCROW 387217 584631 TENANT SECURITY DEPOSITS 195977 PREPAID TENANT RENT 17706 213683 X PART X, LINE 2: NO PROVISION FOR TAXES ON INCOME IS MADE IN THE ORGANIZATION'S FINANCIAL STATEMENTS IT IS EXEMPT FROM INCOME TAXES UNDER I.R.C. SECTION 501(C)(3). IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, MANAGEMENT HAS EVALUATED ITS EXPOSURE TO UNCERTAIN TAX POSITIONS AND DETERMINED THAT THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. INFORMATIONAL RETURNS FILED BY THE ORGANIZATION ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INFORMATIONAL RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, THE THREE PREVIOUS TAX YEARS REMAIN OPEN. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 MICHAEL MYATT SECRETARY/TREASURER 59075 150523 0 0 0 0 0 0 0 18797 59075 169320 0 0 FORM 990, PART III, LINE 2 DURING THE CURRENT FISCAL YEAR THE ORGANIZATION ENTERED INTO A DEVELOPMENT AGREEMENT WITH DAVIS ROAD SENIOR HOUSING LP WHICH IS AN ENTITY WITH THE PURPOSE OF ACQURING OR CONSTRUCTING AN AFFORDABLE HOUSING COMPLEX. FORM 990, PART VI, SECTION A, LINE 4 AMENDMENT TO SECTION EIGHT(3) OF THE ARTICLES OF INCORPORATION AND ARTICLES OF AMENDMENT TO READ: "THE PURPOSE OF THE ORGANIZATION IS TO PROMOTE LOW-AND MODERATE -INCOME HOUSING IN THE STATE OF MAINE." FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS INCLUDE THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY ITS MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT TO ITS AFFILIATE, BANGOR HOUSING AUTHORIY, FOR REVIEW AND FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY FORM 990, PART VI, SECTION C, LINE 19 ALL ORGANIZING AND OPERATING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR BLUEBERRY RIDGE PRIOR PERIOD 1,142. BANGOR HOUSING AUTHORITY 161 DAVIS ROAD BANGOR ME 04401 AFFORDABLE HOUSING ME 501(C)(1) 1 BANGOR HOUSING CORPORATION 161 DAVIS RD BANGOR ME 04401 461235158 REAL ESTATE ME BANGOR HOUSING DEVELOPMENT CORPORATION C 320091 1.00000 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 BANGOR HOUSING AUTHORITY C 270269 FMV BANGOR HOUSING AUTHORITY M 139045 FMV BANGOR HOUSING AUTHORITY M 940436 FMV SCHEDULE R, PART V THE ORGANIZATION HAS ENTERED INTO A MANAGEMENT AGREEMENT WITH THE BANGOR HOUSING AUTHORITY (BHA), A RELATED PARTY WITH COMMON BOARD MEMBERS WITH BHDC. BHA ALSO PROVIDES MAINTENANCE SERVICES AND ADMINISTRATIVE SERVICES TO THE ORGANIZATION. BHDC DOES NOT HAVE ANY EMPLOYEES. ALL EMPLOYEES ARE EMPLOYED BY THE BANGOR HOUSING AUTHORITY. THE BANGOR HOUSING AUTHORITY BILLS BHDC MONTHLY FOR THE COST OF ITS EMPLOYEES WHO WORK ON BHDC PROPERTIES. THE OFFICE SALARIES EXPENSE FOR BHDC IS COMPRISED OF THE PORTION OF BHA'S SALARIES THAT ARE ALLOCATED TO BHDC PROPERTIES.